Business News of Tuesday, 14 January 2020

Source: classfmonline.com

Ghanaians will get greater participation in oil exploration – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo President Nana Addo Dankwa Akufo-Addo

President Akufo-Addo, has reiterated his government commitment of ensuring greater Ghanaian participation in the exploration of onshore oil deposits in Ghana, particularly in the Volta basin as compared to offshore oil exploration which has large foreign participation.

According to him, Ghanaians will get the upper hand in the exploration of oil going forward.

He made this disclosure when responding to a request by the Chiefs, Queen Mothers and Elders of Avenor Traditional Council during an interaction with them at the Jubilee House today.

He welcomed a call by the Paramount Chief of Avenor, saying, the Ghana National Petroleum Corporation (GNPC) should be allowed to complete their ongoing studies about oil exploration in the area.

"Onshore is much cheaper to bring up than offshore oil. Offshore oil is a very expensive business and that is why you need these huge companies, ExxonMobil, and others, to be able to put the rigs into the seabed to bring up the oil. When it comes to onshore, the capital is not so expensive so we are hoping that if the studies confirm that there is indeed oil there, we can get as many Ghanaians as possible, people from the area and elsewhere to be involved in bringing it up and using it for our development" President Akufo-Addo assured.

In his address to the President, the leader of the delegation, Paramount Chief and President of the Avenor Traditional Council, Torgbe Dorglo Anumah VI, urged government to put in much effort as possible to explore abundant oil in the area.

“Long ago, the Romanians were exploring oil in Avenorpeme and they bandied off and claimed that the oil involved was not in commercial quantities, but we are of the belief that their technology was limited and not advanced enough. Today, oil has been discovered in the Volta basin and we know that the catchment area covers our area also". We are pleading and hoping that you find the wisdom, the financial resources, to undertake this important project" Torgbe Dorglo said.

The Chiefs amongst others also pleaded with government to facilitate the formal inauguration of the anticipated change of the Avenor Traditional Area from a district to a Municipal Assembly.

They also requested for two buses for the Avenor Senior High School and the Traditional Council, as well as the upgrade of the Akatsi District Hospital into a fully-fledged hospital. Again, they asked for presidential recognition of the "Avenor Tutudoza festival" on the national calendar of festivals in Ghana.

In responding to their call, President Akufo-Addo assured them that all the relevant ministers and institutions will give them the needed attention it deserves.